EX-10.01(Q) 3 a10-24368_1ex10d01q.htm EX-10.01(Q)

Exhibit 10.01(q)

PARTICIPANT AWARD AGREEMENT

[Date]

[Name and address]

Dear [Name]:

Pursuant to the terms and conditions of the EQT Corporation 2009 Long-Term Incentive Plan (the “Plan”), the Compensation Committee of the Board of Directors (“Board”) of EQT Corporation (the “Company”) has granted you Non-Qualified Stock Options (the “Options”) to purchase shares of the Company’s common stock as outlined below.

Options Granted: [Insert ]

Grant Date: [Insert ]

Exercise Price per Share: [Insert]

Expiration Date: [Insert]

Vesting Schedule: | 50% on January 1, 2012, rounded down to the nearest whole share
| 50% on January 1, 2013

Upon termination of your employment for cause or in the event of your voluntary termination (including a retirement), all unvested Options and any unexercised vested Options shall be forfeited immediately. Upon termination of your employment for any other reason, all unvested Options shall be forfeited, and any unexercised vested Options shall be forfeited unless exercised within 90 days after the employment termination date (except in the event of your death or disability, in which case the post-termination exercise period will be one year).

You may pay your exercise price and/or satisfy your tax withholding obligations with respect to the Options by directing the Company to (i) withhold that number of shares which would otherwise be issued upon exercise to pay your exercise price and/or satisfy the minimum required statutory tax withholding obligations, or (ii) accept delivery of previously owned shares to satisfy such exercise price and/or minimum tax withholding obligations.

The terms contained in the Plan are hereby incorporated into and made a part of this Participant Award Agreement, and this Participant Award Agreement shall be governed by and construed in accordance with the Plan. In the event of any actual or alleged conflict between the provisions of the Plan and the provisions of this Participant Award Agreement, the provisions of the Plan shall be controlling and determinative. [The Options, including any shares acquired by you upon exercise of the Options, shall be subject to the terms and conditions of any compensation recoupment policy adopted from time to time by the Board or any committee of the Board, to the extent such policy is applicable to the Options.] [Note: Bracketed language became applicable to award agreement in 2011.]

You may access important information about the Company and the Plan on the Company’s website. Copies of the Plan and Plan Prospectus can be found at www.eqt.com, by clicking on the “Employees” link on the main page and logging onto the “Employee info” page. Copies of the Company’s most recent Annual Report on Form 10-K and Proxy Statement can be found by clicking on the “Investors” link on the main page and then “SEC Filings.” Paper copies of such documents are available upon request made to the Company’s Corporate Secretary.

| For the Compensation Committee |

By my signature below, I hereby acknowledge receipt of the Options granted on the date shown above, which have been issued to me under the terms and conditions of the Plan. I further acknowledge receipt of the copy of the Plan and agree to conform to all of the terms and conditions of the Options and the Plan.

Signature: |  |  | Date: |
| Optionee Name |